Recherche

Reliance announces management changes to enhance North American presence

Mr. Nicholas Clark appointed as President to drive Reliance's corporate
and capital market engagement functions

Mr. Clark brings extensive corporate, financial and capital markets
experience in North America and other markets

Mr. Clark to be based in North America with the role to commence
immediately

Mr. Gary Lewis to step down as Chief Executive Officer and remain as
Non-Executive Chairman

Immediate focus is to strengthen Reliance's presence among brokers and
investors in the North American market

VANCOUVER, Feb. 5, 2013 /CNW/ - Reliance Resources Ltd. ("the Company")
(TSX:RI) is pleased to announce that Mr. Nicholas Clark has been
appointed to the role of President of the Company based in North
America, effective immediately. Mr. Clark, who is currently Reliance's
Chief Financial Officer and Head of Corporate Affairs, will officially
relocate to North America in late March.

Mr. Clark is a qualified lawyer with significant experience operating in
Indonesia as well as North America, gained from working and living in
both the countries, specifically within the investment banking fields
particularly in mergers and acquisitions. Mr. Clark also possesses
extensive experience in financial and capital markets across North
America and other jurisdictions.

Mr. Clark's immediate focus will be to strengthen the Company's
engagement with investors in North America as part of the Company's
ongoing investor relations program. Mr. Clark will continue to be
supported by the Company's Indonesian technical team, and will be
integral in re-enforcing Reliance's planned operational milestones
amongst key players in the North American capital markets.

The Board of Reliance also confirms that Mr. Gary Lewis will step down
as Chief Executive Officer of the Company and remain in the role of
Non-Executive Chairman.

Mr. Clark commented: "This is a great opportunity to lead Reliance and
unlock the value in the Company's Indonesian assets through supporting
the Company's corporate growth strategy.

We also want to capitalise on our status as a Main Board TSX-listed
company, which presents us with a number of opportunities.

"Our Tanoyan Project in particular is delivering encouraging exploration
results, and we are focused on continuing to develop this asset. Our
projects are located near a number of world-class resources and we
remain confident that we can realise significant value from these
assets.

"My first priority as President is to strengthen our presence among
North American investors and secure solid relationships among stock
broking firms that can support the Company. I am looking forward to the
challenge of growing Reliance's profile amongst the investment
community."

Mr. Gary Lewis added: "Nick has extensive experience in financial and
capital markets in North America. Appointing a President based in that
region is an essential requirement for Reliance, especially as we move
our flagship project from an exploration to an exploitation phase.

"We have every confidence in the assets and the team, and Reliance is
well placed moving forward. The Board and management team, under Nick's
leadership, are working hard to build shareholder value."